Egypt’s Misr Hotels Will Turn Historic Omar Effendi Building Into a Hotel to Increase Public Asset Profits
Misr Hotels in Egypt has announced that it will turn the old Omar Effendi Building in Cairo’s Heliopolis area into a four-star hotel. This plan is part of a larger effort to grow the country’s tourism industry and protect its historical buildings, the company said on Tuesday.
Redevelopment Project
Misr Hotels has announced in a filing to the Egyptian Stock Exchange (EGX) that it has started the legal and technical steps needed for a redevelopment project.
This includes doing a full study to see if the project is possible, checking the building’s structure, and creating a timeline with important steps for the work ahead.
The goal is to turn the Omar Effendi Building into a site that highlights its historical value and great location, attracting both local and international visitors. This supports Egypt’s wider plans to grow tourism and the economy.
Big Changes Over Time
Omar Effendi is a well-known Egyptian retail company owned by the state. It is part of the Holding Company for Tourism and Hotels, which is under the Ministry of Public Business Sector.
The company began in 1856 in Cairo, started by the Austrian Orosdi family and was first called Orosdi Back. In the early 1900s, an Egyptian Jewish businessman bought the company, renamed it Omar Effendi, and built a landmark headquarters on Abdel Aziz Street with French-style architecture.
Over the years, the company saw many changes. It was taken over by the government in the 1950s, became a joint-stock company in the 1960s, and was partly sold to private investors in the early 2000s. In 2005, a Saudi investor bought most of the company, but the business did poorly, with sales dropping and operations nearly stopping.
In 2011, a court returned the company to state ownership. However, it still struggled with money problems as it tried to rebuild its position in Egypt’s retail market.
Why This Matters Now
Turning one of Omar Effendi’s buildings into a tourist hotel is part of Misr Hotels’ plan to make better use of public assets. The aim is to turn them into projects that help grow the economy and attract more tourists.
Published: 5th June 2025
For more article like this please follow our social media Twitter, Linkedin & Instagram
Also Read:
Aramco Raises $5B in 3-Part Dollar Bond Sale in 2025
Egypt’s Non-Oil Private Sector Nearly Stable in May
$1T Middle East Wealth Shift by 2030—Can Tech Help?
